The Atlantis simulation shows the platform of supply and demand in a real estate/rental market. This simulation shows what causes the fluctuations in supply and demand from the need to increase occupancy rate to an influx of new residents due to growth within the local economy. These factors are direct implications of the constant changes happening to supply and demand within the Atlantis community. When occupancy is low it shows there is an increased supply of apartments available to rent. When the need occurs to increase the total occupancy within the complex, prices will begin to drop in an effort to balance the occupancy rate. When this occupancy rate is high, the prices will increase for the few openings the complex may have. An Economic factor is another cause that directly affects the supply and demand curve. When a company decided to expand their operations and open a large facility in Atlantis the result was an increase in the population that caused the supply to drop and the demand to increase which in result caused the rental prices to increase. Each of these causes directly affect the supply and demand curve, so when the S&D curve needs to be read company’s will be aware of the most current market conditions to make the most educated decision.

When a real estate company in Atlantis reads a supply and demand chart they use the information provided to make educated decisions on how they operate their business. From the price of the property, advertising costs and expansion planning the supply and demand chart offers great insight for decision-making. When a company with a large number of two bedroom apartments for rent wants to ensure they are getting top dollar for their rentals. If there is a high demand for two bedroom apartments they may be able to rent properties that would normally rent for $1,000 to rent for $1,200 depending on how high the demand is. Where as if the demand was lower than normal that same apartment may rent for $800. When the...

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...Supply and DemandSimulationPaper
ECO/365
Week 2 Individual Assignment
February 25, 2013
Supply and Demand
The analysis will identify two microeconomics and two macroeconomics principles or concepts from the simulation, and explain why each principle or concept is in the category of macroeconomics or microeconomics. The analysis will identify at least one shift of thesupply curve, and one shift of the demand curve from the simulation and what causes the shifts. The analysis will show for each shift, how it would affect the equilibrium price, quantity, and decision making. It will detail application to learned material about supply and demand from the simulation to workplace or real-world product. It will detail how concepts of microeconomics help understand the factors that affect shifts in supply and demand on the equilibrium price and quantity, and it will also detail how concepts of macroeconomics help understand the factors that affect shifts in supply and demand on the equilibrium price and quantity. The analysis will explain how the price elasticity of demand affects a consumer’s purchasing and the firm’s pricing strategy in relation to the simulation.
The first microeconomic concept...

...Supply and DemandSimulationPaper
Principles of Microeconomics 365
Matthew J. Angner
June 1, 2010
University of Phoenix Online
Introduction
The supply and demandsimulation was based on the management of rental apartments by GoodLife Management. The apartments are in a fictitious town called Atlantis. Topics that will be reviewed in this paper include changes insupply and demand, how shifts in supply and demand affects decision-making, key points from the reading assignments that were emphasized in the simulation, application of the supply and demand concepts at the author’s workplace, how price elasticity of demand affects the decision-making of the consumer and to the organization, and a summary of the results of the assessment.
Causes for Change in Supply and Demand
The causes for changes in supply and demand in the simulation were driven by the availability of two-bedroom rental apartment, demand for these rentals, the quantity of available renters, and the price per month. In the simulation, the demand curve is downward sloping so as the price of the rentals decreased, the demand increased. However, the...

...Applying Supply and DemandSimulation
ECO/365
University of Phoenix
December 08, 2008
What causes the changes in supply and demand in the simulation?
If the availability of the apartments were good and in a preferred location, this could have a direct effect on the increase in demand. When consumers look for a place to live the size of the home is crucial in their decision making as well of the economic conditions in the area. With the location, size and economic conditions all factoring into the decisions, the price of the apartments must be determined accordingly. The amount of rent a tenant must pay is usually fixed by the property owners and contracted out based on or determined by the supply and demand of the area where they are located. The amenities of the property and the stipulations in the contract can also be a determining factor for the supply and demand for the apartments. If the apartments are located in a residential area or in an area downtown close to businesses the supply and demand could possibly change depending on consumer preference.
How do shifts in supply and...

...Running head: SIMULATION
Week 2: Supply and DemandSimulation
Brian Richards
ECO/365
December 3, 2012
Ashraf Zaki
In the simulation of the city of Atlantis, it demonstrated how supply and demand can shift due to adjustments with prices. The simulation focused on two-bedroom rental properties. We received the expertise of Hal Morgan and Susan Hearst from Good Life Property Management to determine rental prices and how to balance out the supply and demand. Through the simulation, I was able to see that when the rental price of the apartments decreased, there would be an increase in the demand for the apartments. Furthermore, if the price of the apartments increased, then there would be a decrease in the demand. However, to balance out the supply and demand, there needed to be a shift in either the supply or demand.
Throughout the simulation there were a few concepts that dealt with macroeconomics as well as microeconomics. As learned from a previous course, macroeconomics examines nation-level economic facts like GDP, unemployment, foreign trade, and so on. Colander (2010) defines it as the study of the economy as a whole. It considers the problems of inflation, unemployment, business...

...1
Supply and DemandSimulation
Connie F. Dents
ECO/365
November 6, 2012
Tulin Koray
2
Supply and DemandSimulation
The Supply and DemandSimulation is about the rental of two- bedroom apartments that is managed by Goolife Management Company. The Goodlife Management Company is in the City of Atlantis. The Simulation will show the different scenarios in how the shift in demand and supply curve, demand and supply shift, price ceilings, and the equilibrium changes, also the decrease and increase, and how supplies changes can stay the same.
This assignment asks to identify two microeconomics and two macroeconomics principles or concepts from the simulation. Before one can identify he or she needs to know the definition of microeconomics and macroeconomics. As stated by (Colander, 2010) Microeconomics is the study of individual choice and how that choice is influenced by economics forces. Macroeconomics is the study of the economy as state by (Colander, 2010). Scenario one and four identify microeconomics concepts. In scenario one it describes the Goodlife management company, which manages two- bed room apartment’s has a large amount of vacancy, to have less vacancy the Goodlife management company would need...

...Supply and DemandSimulation Summary
University of Phoenix
ECO360, Economics for Business I
The Supply/Demandsimulation involves acting as property manager for GoodLife Management in the fictional town of Atlantis. GoodLife Management manages seven apartment complexes in Atlantis. The property manager is expected to adjust the monthly rental rate of two-bed rental apartments and the quantity of apartments supplied based on the market trends. Factors that influence the supply and demand for apartments include personal preferences, economy, income, and rental rates. Each of these factors affect the ratio of vacant and occupied apartments. Decisions regarding supply, demand, and price require careful evaluation. Regular monitoring of supply and demand is necessary to remain competitive in a crowded rental market. As the community grows, GoodLife must make adjustments to remain viable in the real estate industry.
The objective of the first simulation was to determine the monthly rental rate for two-bedroom apartments on temporary leases. The vacancy rate had to be decreased to less than 15% while maximizing revenue. As the rental rate of the apartments was decreased, demand increased, resulting in a lower vacancy rate. The simulation stressed that as...

...studying the economy. This paper will discuss the examples of the supply and demand curves as they were presented in the simulation. In addition, factors affecting these curves such as changes in population, government, employment, and trend all take part in shifting these curves causing pricing or rental rates to increase and decrease accordingly. The concepts of microeconomics that trigger the changes in pricing which in turn causes shifts on both curves will also be discussed in detail. Finally, the paper will briefly address how this information could be used in my workplace and in my understanding of a real-world product which I am familiar with.
In the first scenario given in the simulation, the target plan was to increase revenue and decrease the percentage of vacancy from forty percent to fifteen percent. In order to do this, a decrease in the rental rate must occur in order to gain more potential tenants willing to move in at the lowered rate. This will ultimately lower the vacancy percentage as well. The more important factor to make note of in this simulation is that as the rental rates gets lower, revenue will increase and will continue to do so accordingly until a certain maximum is reached. Once that maximum revenue is reached, continuing to lower the rental rate will cause revenue to begin to decrease. It is important to know where that change occurs...

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Supply and DemandSimulation
ECO/365
August 12, 2013
Supply and DemandSimulation
In this paper I will discuss and identify two microeconomics and two macroeconomics principles or concepts from the simulation. I will explain why I have categorized these principles or concepts as macroeconomic or microeconomic. I will also identify at least one shift of thesupply curve and one shift of the demand curve in the simulation, and what causes the shifts. I will discuss how each shift, and analyze how it would affect the equilibrium price, quantity, and decision making.
Two microeconomics and two macroeconomics principles or concepts
Microeconomic theory considers economic reasoning from the viewpoint of individuals and firms and builds up to an analysis of the whole economy. Microeconomics is the study of individual choice, and how that choice is influenced by economic forces. Microeconomics studies such things as the pricing policies of firms, households’ decisions on what to buy, and how markets allocate resources among alternative ends. Our discussion of opportunity cost was based on microeconomic theory. In the simulation scenarios one and three are microeconomics principles because they deal with the part of economics that is about single factors and the effects of individual...